Even though Bitcoin is very popular today, there is no chance that it would eradicate banks completely because local money is done with the banks rather than online money transactions.
Ripple may bridge the gap and I know 100bn coins instead of 21m is crazy right, plain stupid and I would agree
but my calculator seems to be arguing with me so maybe it's broken
100bn divide by 21m = 4,762
not sure if my maths is right here
Well if I take XPR price of $1.89 today but round it up to $2.00 just to help my mental maths
easy then I am left with a number of $9,523 which is about 40% lower than the price of one Bitcoin
Not trusting my calculator I moved on to "online money transactions" and could not workout the
worlds population of 7.5bn and guess at the transactions per second need to process that many people
but I did read that Ripple says they can do 70,000 transactions per second and Bitcoin only managed
7 so that's 7,000:1
Now my attention turned towards transaction fees but my battery in my calculator went
flat and I was trying to dived BTC fees of $25 per transaction (It's cheap today
) by $0.02
but I keep coming up with another stupid number but I didn't forget the initial cost of having to keep
$40 in my XRP wallet which was about 1.5 X BTC transaction fees.
Please someone sent money to abc1234567890def so that I can fix this bloody calculator will you now !